Q&A

I would speak to a local mortgage broker. The market in Austin is moving very fast without a local lender providing a pre-approval letter you will find yourself at a disadvantage. Try David Cockrell with Supreme Lending https://www.supremelending.com/secureApp/AppForm.aspx?lo=davidcockrell... more

I would suggest that you interview agents from different brokerages. Be mindful of agents who are too eager to recruit since some brokerages give bonuses, profit sharing etc. I would say take your time to find the right brokerage for you.

Absolutely! However, if you are on a tight budget, cleaning and clearing up/declutter stuff, repaint or touch up the home, steam carpet, and trim and maintain your front and backyard will be your first step.

Hey Cole!
Be sure you include New Homes in your search! You get more for your money - and the home is perfect when you move in. With plenty of new home construction in the area - should be a breeze to find the perfect fit! Think Lennar!!... more

Happy Sunday! I am actually with a new home builder out in Lakeway - Village Builders. We are the luxury brand of Lennar homes. I would recommend that you go into one of our communities in the area you are interested in. Find a home you love - then work out the details with the New Home Consultant on site. We do accept contingencies on a case by case basis. So your best bet is just to get out there looking - and go from there. Let me know if I can be of any help out in Lakeway or if you have more questions.
Have a great day!... more

Pamela, I think that Susie and Jim both offered great advice. They both understand that you should explore professional assistance as there are very few options for 0 down loans and of that supply of housing in Austin is in very high demand.
Check out this website that will show you the average prices of homes sold and much more valuable information.
http://www.austinhomesearch.com/pages/austin-market-update... more

When looking at properties to buy as an investment appreciation should really not be a factor that is given heavy consideration. In other words...let the appreciation be the icing on the cake. Buy because you are getting a great deal not because you plan on the value increasing at x% over the next x years and therefore you will end up with x profit. Appreciation buyers usually do ok, but they leave a lot of excellent opportunities behind for those of us that buy for the deal.
That being said....the main zip codes with great future appreciation potential are going to be ones that are in "hot areas" and areas that have not yet seen the boom but are in the projected path. Areas like East Riverside where the ERC zoning is in effect, or areas near colleges, jobs etc.
If you want a good deal, reach out to me I would be more than happy to send over a couple of active deals I have (non-MLS and no commissions, just cash deals).... more

Hi Jennifer , Your question is a good one and I am glad you asked! I believe all the answers below are valid and could make sense depending on your specific situation.
Here is my opinion.....Absolutely work to get your credit repaired. You don't actually need to hire any service to do this, just do some research on google, dispute all info on your credit reports with all three bureaus (this can now be done online for free after a verification process by going to each credit reporting agency's respective website).
These credit agencies are:
-Equifax
-Transunion
-Experian
There are many other things you can do to start improving your credit such as a secured credit card (don't rack up too much debt on it...just keep it open and under 10% utilization) and many others.

WHAT I RECOMMEND in the mean time is that you also look for OWNER FINANCE OPPORTUNITIES. I specialize in providing owner finance housing. This means that the seller doesn't have to approve you based on credit. income , type of employment or time on the job necessarily. Of course these items will be considered to some degree but the main factor is a healthy down payment.
In Corpus I have houses starting with $10K down.
In San Antonio, Houston and Dallas I have houses starting with $15K down.
In Austin I have houses starting at $20K down.
Keep in mind though that owner finance will generally come with an interest rate between 7-12%. My properties are always offered between 7-10% depending on the situation.
The goal though is to get in the house and then refinance conventionally within 2-5 years once your credit is repaired and / or your time on the job has increased etc.
It is a great tool to use and not throw money away renting.
I hope this helps, and if you would like me to tell you more about the properties I have please feel free to message or call me.... more

We serviced many home sellers in the greater denver area and have had great success offering a flat fee full service listing and cash back to buyers. There is no need to charge the high commission any longer; our work load is less due to modern digital technology and so we pass the savings on to both sellers and buyers.... more

This is a great question for a lender, I am a realtor in the Austin area. My best answer would be no, because of this requirement: cannot have not owned a home as primary residence in the past three (3) years. However if it has been over 3 years it's worth asking a mortgage lender.... more

Property managemers can find out a few ways that you have a previous broken lease. If it shows up as a collection on your credit report, calling the places that you mention on the application for previous addresses, or also on the credit report it generally will list all previous addresses you stayed. If your broken lease does not show up on the credit report as a collection debt, you will need to list other sources that you leased from, that you are in good standing with. Do not mention the 2011 address under previous rental. This will give you the best chance of getting approved.... more

The landfill closes at the end of 2015 and supposedly there is going to be trees planted and exotic animals let loose?? We will have to see about that, either way the dump is to be no more and this is for sure to increase the value of homes in that area...... more

Rebates on new construction work great. When buying a new construction home, many agents give buyer rebates. If you do not use an agent, this money just goes to the builder and goes down the drain! Check out http://www.cashbackflorida.com. Get a 1% rebate on any new construction home in the state of Florida.... more

I might be able to help, I can inform you that there is no 100% financing available using hard money. the LTV or LTC is around 60 to 75% but depending on the equity, completion value of the project and if borrower owns the dirt something can be put together. Give me a call to discuss the project.

John Broussard
Account Executive
Newbridge Home Loans
832-429-4389
john@newbridgehomeloans.com... more

It all depends on how bad your credit is. You may be better off fixing your credit first then trying to buy. When you purchase with bad or marginal credit you pay more in loan fees and interest. Your husband may also want to try and establish some credit with a secured credit card. Buying sometimes is not the smartest move.... more